Boston Partners raised its position in MPLX (NYSE:MPLX) by 24.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 137,296 shares of the pipeline company’s stock after buying an additional 27,292 shares during the quarter. Boston Partners’ holdings in MPLX were worth $4,536,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MPLX. UMB Bank N A MO acquired a new position in shares of MPLX during the 4th quarter worth $237,000. MHI Funds LLC acquired a new position in shares of MPLX during the 4th quarter worth $3,179,000. Jennison Associates LLC grew its stake in shares of MPLX by 6.9% during the 4th quarter. Jennison Associates LLC now owns 1,036,800 shares of the pipeline company’s stock worth $36,775,000 after purchasing an additional 67,355 shares during the period. Joel Isaacson & Co. LLC grew its stake in shares of MPLX by 33.3% during the 4th quarter. Joel Isaacson & Co. LLC now owns 40,000 shares of the pipeline company’s stock worth $1,419,000 after purchasing an additional 10,000 shares during the period. Finally, Dividend Assets Capital LLC grew its stake in shares of MPLX by 33.2% during the 4th quarter. Dividend Assets Capital LLC now owns 768,961 shares of the pipeline company’s stock worth $27,275,000 after purchasing an additional 191,732 shares during the period. 32.22% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on MPLX. Stifel Nicolaus set a $42.00 price target on shares of MPLX and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Deutsche Bank began coverage on shares of MPLX in a research note on Thursday, April 19th. They set a “buy” rating and a $40.00 price target on the stock. Barclays lowered their price target on shares of MPLX from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. Guggenheim upgraded shares of MPLX from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, April 16th. Finally, Zacks Investment Research lowered shares of MPLX from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.00.
MPLX (NYSE:MPLX) last released its quarterly earnings data on Monday, April 30th. The pipeline company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. MPLX had a net margin of 21.88% and a return on equity of 10.43%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. analysts forecast that MPLX will post 2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th were issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 6.90%. This is a positive change from MPLX’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, May 4th. MPLX’s dividend payout ratio is 233.02%.
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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